Showing posts with label investment. Show all posts
Showing posts with label investment. Show all posts

Wednesday, December 2, 2009

Northeastern may be the Big Winner

Northeastern university made a good decision recently. They cut their football program. After examination of the budget Northeastern's Athletic Director, Peter Roby made the tough choice to simply cut an entire sports program because it was too expensive to maintain. Bravo; common sense in tough times. College costs are rising, 439% since 1982, that is 4 times the rate of inflation. How much of that can be attributed to maintaining or upgrading sports facilities. Yes, a winning college team may bring in financial revenue, but how many teams are truly competitive at the top level? Are colleges investing an equitable amount into improving labs, theaters, or health centers? With two children heading to college back to back I'm neck deep in the financial aid process. When I visit a college with my son, I make an appointment with the financial aid office. The first question I ask is what is my child going to receive that is worth $30,000 a year? If the answer is "we have a great football team," then the college is not for him.
State university systems were always considered a less expensive option than a private college. State budget cuts are felt at these institutions as well. The University of California Regents recently announced a 38% hike in tuition. The University of Maine system predicts a 5% increase for 2010, on top of a 10% increase for the current school year. This prediction however does not factor in our Governor Baldacci's announcement a day later calling for an immediate cut of 6 million dolars.
We are often focused on k12 education. We all know budgets are only going to get tighter. Class size will increase and facilities will go without needed repair. I wonder; we constantly push for reform that will allow for every student to graduate and go on to college. But, with tuition rising exponentially, will our students be able to afford college?